GE CEO Says Offshore Wind To Have Similar Losses In 2024 Compared To 2023 But Cash Flow Will Be Better; Says Offshore Wind Remains Difficult This Year With Losses Of Roughly $1B In 2023
Portfolio Pulse from Benzinga Newsdesk
GE's CEO has stated that the company's offshore wind sector will continue to experience similar losses in 2024 as in 2023, but cash flow will improve. The offshore wind sector is expected to incur losses of approximately $1B in 2023.
October 24, 2023 | 11:57 am
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GE's offshore wind sector is expected to continue facing losses in 2024, similar to the projected $1B loss in 2023. However, the company's cash flow is expected to improve.
The CEO's statement indicates that GE's offshore wind sector will continue to face financial challenges in the near future, which could negatively impact the company's stock price. However, the expected improvement in cash flow could mitigate some of these losses.
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